Killick Drilling Results

Ariana Resources PLC 21 March 2007 21 March 2007 AIM: AAU POSITIVE DRILLING RESULTS FROM THE KINIK GOLD PROSPECT Ariana Resources plc ('Ariana' or 'the Company'), the gold exploration company focused on Turkey, is pleased to announce the results from the first eight drill holes completed on the Kinik prospect at the Company's 100% owned Ivrindi Project in Balikesir province, western Turkey. •Eight drill holes completed along a 750m long gold in soil anomaly •Intersections of 1.41 g/t Au over 6.2m, 4.17 g/t Au over 1.9m and 4.91 g/ t Au over 1.7m •Gold grades up to 10.4g/t Au from channel sampling and 7.6g/t in drilling •Prospect discovered from Ariana's remote-sensing programme A field team from the Company's Turkish operating subsidiary, Galata Madencilik San. ve Tic. Ltd. Sti. ('Galata'), have supervised the completion of a (HQ size 63.5 mm) diamond-core drilling programme on the Kinik prospect. The drilling programme was designed to test the channel sampled area and the anomaly defined by a soil geochemical grid reported on earlier. The eight holes reported in this release total 423.30m and were drilled to depths of between 35 and 81 meters and angled between 50 and 75 degrees along a 750 metres section of the gold in soil anomaly. Drill hole collars were located 40-50 metres apart. Ahead of commencing the drilling programme, Galata obtained all necessary environmental and forestry approvals from the provincial government in Balikesir and the State Government in Ankara. Kerim Sener, Managing Director, commented: 'We are encouraged by the results of this initial drilling programme on the Kinik prospect which has confirmed the depth continuity of the mineralisation identified from the surface. The geological setting of the prospect, the unusual style of mineralisation encountered and the new data obtained from drill testing, suggests that additional drilling at this locality is warranted. Our target will be the definition of a near surface, bulk tonnage and low grade gold resource. We are now in the process of securing an RC-drilling rig for this purpose and we plan to restart work at this prospect during the summer of 2007. This is another very encouraging result from our initial exploration programme and gives us additional confidence in our target identification procedures. 'We are in the process of preparing our first resource statement and we expect to be in a position to announce this in the next quarter.' Table 1: Drill hole intersection data from the Kinik prospect drilling programme: Hole From To Recovery Apparent Gold (Au (m) (m) (%) Width (m) g/t) KNK-D01-06 10.80 11.80 76 1.00 0.76 KNK-D02-06 4.60 5.60 96 1.00 1.01 28.90 35.10 95 6.20 1.41 KNK-D03-06 8.50 9.40 98 0.90 1.03 11.00 12.90 95 1.90 4.17 27.60 30.80 98 3.20 1.51 32.40 33.90 97 1.50 1.88 34.60 36.50 100 1.90 0.61 KNK-D04-06 25.20 27.30 90 2.10 0.86 KNK-D05-07 10.20 11.20 97 1.00 1.62 13.00 15.00 98 2.00 2.97 27.40 28.40 97 1.00 0.58 KNK-D06-07 Mineralised but values are below cut-off KNK-D07-07 KNK-D08-07 44.00 45.70 100 1.70 4.91 Notes: No top cut has been applied to assay results Intersections based on a 0.5 g/t cut off grade Weighted averages have been calculated for core recovery and gold grades Contacts: Ariana Resources plc Michael Spriggs, Executive Chairman Tel: 07887 998252 Kerim Sener, Managing Directorinfo@arianaresources.com Tel: 07709 011954 Bankside Consultants Michael Padley / Susan Scott Tel: 020 7367 8888 Beaumont Cornish Limited Roland Cornish Tel: 020 7628 3396 Editors' note: About the Kinik prospect The Kinik prospect is located in the Ivrindi gold project, which covers an area of 90km2 in Balikesir province, western Turkey, and lies 70 km to the northwest of the company's Sindirgi Project. The prospect was identified by the company's remote sensing program. A 48m long reconnaissance channel sample along a road-cut within the prospect area determined the potential for significant gold grades, with high grade zones of 3.2 g/t over 10m, 3.1 g/t over 5m and 1.4 g/t over 13m (using a 0.5 g/t Au cut-off) with a peak grade 10.4 g/t Au. Subsequent rock-chip sampling undertaken by the company at two separate locations 250m and 900m east and northeast, respectively, of this channel returned grades above 1 g/t Au. A follow-up systematic surface soil sampling programme was completed in late 2005. This work identified an extensive (750m by 50m) gold in soil geochemical anomaly (above 50ppb Au) along the faulted contact of altered andesitic volcanic rocks and limestone units. The grades encountered in the drilling indicate that the gold mineralisation is associated with variably sulphidised andesitic rocks in the hanging-wall of a significant fault. Initial drill-core sampling for gold was not guided by any particular feature and most sampling was concentrated in the immediate hanging-wall. The results obtained show that potentially any of the altered andesite can be mineralised and additional sampling will now be undertaken to determine the true distribution of gold around the fault. It is possible that the widths reported in Table 1 above are underestimating the dimensions of the mineralisation at the prospect. Sampling and Assaying Procedures 164 HQ size drill-core samples from the drilling programme on the Kinik prospect, ranging from 0.25m to 1.40m in length, were cut in half by a diamond saw and sent for assay. Of these, 137 samples returned grades of less than 0.5 g/t Au (83.6% of the total), 12 between 0.5-1 g/t Au (7.3% of total), 12 between 1-5 g/t Au (7.3% of total) and 3 above 5 g/t Au (1.8% of total), with a peak grade of 7.59 g/t Au. Sample recovery has averaged 95% in the mineralised zones. All the samples were prepared by the ALS Chemex preparation facility in Izmir and assayed by 30g fire assay at the ALS Chemex laboratory in Romania. Standard, blank and duplicate samples were used in the sample batches in line with the Company's quality control procedures. Quality control checks have determined that all blanks and standards passed and duplicate samples showed excellent correlations, with 99% correlation for crushed duplicates and 100% correlation for pulp duplicates. Laboratory sample preparation, assaying procedures and chain of custody are appropriately controlled. The Company maintains an archive of half core samples and a photographic record of all cores for future reference. Dr Kerim Sener, BSc (Hons), MSc, PhD, is Ariana's Managing Director. A graduate of the University of Southampton in Geology, he also holds a Master's degree from the Royal School of Mines (Imperial College, London) in Mineral Exploration and a doctorate from the University of Western Australia. He is a Fellow of The Geological Society of London and has worked in geological research and mineral consultancy in Southern Africa and the Northern Territory of Australia. He has read and approved the technical disclosure in this regulatory announcement. About Ariana Resources Ariana is a dynamic exploration company focused on the discovery of epithermal gold-silver and porphyry copper-gold deposits with multi-million ounce potential within the Tethyan metallogenic belt of Turkey. The Company has a portfolio of prospective licences covering approximately 1,800km2, selected on the basis of its advanced in-house databases. The Company's flagship asset is the 235km2 Sindirgi gold project, which targets a series of prospects, within a prolific mineralised district in western Turkey. The project hosts over 45km of gold-silver bearing epithermal quartz veins. The drilling programme was focussed on defining gold resources (in compliance with the JORC code) at the prospects of Kiziltepe and Kepez. Ambrian Partners Limited and King & Shaxson Capital Limited are joint brokers to the Company and Beaumont Cornish Limited is the Company's nominated adviser. For further information on Ariana you are invited to visit the Company's website at www.arianaresources.com. Ends This information is provided by RNS The company news service from the London Stock Exchange END DRLIIFVTVEILFID
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